Market News / Story
TETRA Technologies Cuts Term Loan Spread to SOFR+5.00%, Extends Maturity to Dec 31, 2030
·
TETRA Technologies entered into a First Amendment to its Term Loan Credit Agreement to lower borrowing costs and extend the facility. The amendment reduces the interest rate from SOFR + 5.75% to SOFR + 5.00%, pushes the maturity to December 31, 2030, and defers amortization payments until June 30, 2028, with modest quarterly amortization thereafter. It also modifies certain covenants and adds TETRA Bromine Project as a guarantor. The changes are expected to enhance…